Billionaire Tilman Fertitta continues to be the top shareholder for Wynn Resorts Ltd. with a 10% ownership level, according to a Securities and Exchange Commission filing by the company dated Monday.
Fertitta, the owner of Houston-based Fertitta Entertainment Co., which operates the Landry’s restaurant chain and Golden Nugget-branded casinos, is the owner of 10.9 million shares of Wynn common stock. The filling was triggered since he holds more than 10% of the company.
In November, Fertitta surpassed Elaine Wynn, the former wife of former Wynn CEO Steve Wynn, as the company’s leading shareholder. However, his commitment to the company could further deepen as, according to Monday’s filing, Fertitta is entitled to buy 1.7 million shares at $85.73 a share by May 13.
The filling comes amid a busy time for Fertitta. The mogul, who also owns the NBA’s Houston Rockets, was nominated in January to become ambassador to Italy by President Donald Trump.
Additionally, he is seemingly forging ahead on a Las Vegas Strip project. Announced in May 2024, the unnamed project would encompass a 43-story, 2,420-room resort on 6.2 acres on the southeast corner of Las Vegas Boulevard and Harmon Avenue.
Fertitta’s investment has been described by analysts as “passive”, which would discard takeover movement in the near future. However, other experts believe Fertitta could become more active in future months, although he has yet to publicly speak about his growing wynn stake.
In the meantime, analysts have also said the stock continues to be undervalued. The company’s newest resort project, Wynn Al Marjan Island in the United Arab Emirates, is expected to not have gaming competition in the region for three to five years, offering the operator a significant first-mover advantage in the nascent UAE market.
Original article: https://www.yogonet.com/international/news/2025/02/27/96544-tilman-fertitta-remains-wynn-39s-top-shareholder-at-10-stake-latest-sec-filing-shows
